Hope For Women: Sterling Bank Partners DBN to Give N20 Billion to Female Entrepreneurs
- Several Nigerian women running businesses have a chance to scale their enterprise with a new credit facility
- Sterling Bank and the Development Bank of Nigeria are partnering to provide funding for women-led enterprises
- The partnership aims to help women entrepreneurs with the requisite capital to scale and grow their businesses
Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.
For thousands of Nigerian women struggling to break financial barriers and grow their businesses, a new dawn may have arrived. Sterling Bank, in partnership with the Development Bank of Nigeria (DBN), has unveiled a ₦20 billion fund targeted exclusively at female entrepreneurs across the country.
This landmark initiative is not just another bank loan, it’s a bold step aligned with the Federal Government’s plan to help women to scale their businesses.
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The move aims to amplify women’s access to affordable credit, helping them expand, create jobs, and contribute more meaningfully to Nigeria’s economic recovery.
Driving the federal vision for women empowerment
The development comes after the Nigerian government unveiled the Youth Economic Intervention and De-Radicalisation Programme, (YEIDEP) an initiative to combat youth unemployment, poverty, and insecurity.
The YEIDEP fund, launched by the Nigerian government earlier this year, seeks to provide financial and technical support to youth entrepreneurs across strategic sectors. ,
It focuses on improving inclusion, productivity, and sustainability, key goals that Sterling Bank and DBN’s ₦20 billion partnership directly advances.
It also reinforces the government’s commitment to gender equality and inclusive growth through strategic public-private partnerships.
Key features of the ₦20 billion women’s fund
Under the scheme, eligible women-owned and women-led businesses can access up to ₦75 million in affordable loans to fund expansion, innovation, or operations. The program provides a repayment period of up to three years, offering flexibility to manage growth without financial strain.
Target sectors include:
These sectors, according to Sterling Bank, represent high-impact industries where women are already showing leadership and potential for job creation.
Who can apply and how?
To qualify, applicants must be women entrepreneurs or owners of registered businesses in Nigeria. The enterprise must be majority women-owned or women-led, and operate within the listed eligible sectors.
How to apply:
- Visit Sterling Bank’s official application portal.
- Review the eligibility requirements and funding guidelines.
- Complete the online form with accurate business details.
- Submit before the deadline indicated on the platform
Breaking barriers, building futures
Beyond access to finance, this initiative symbolizes hope for millions of women who have long faced systemic challenges, limited collateral, gender bias, and restricted access to investment capital.
Source: Getty Images
By backing women with both funds and trust, the Sterling-DBN partnership could reshape the face of female entrepreneurship in Nigeria.
As the first batch of applicants prepare to benefit, one message rings clear: the era of waiting for opportunities is over, Nigerian women now have the capital to build their own future.
Group launches ₦100,000 grant for petty traders
Legit.ng earlier reported that thousands of small-scale traders across Nigeria are set to benefit from the Petty Traders Grant Support Programme, a new financial empowerment scheme designed to uplift street vendors, market sellers, and micro-entrepreneurs struggling to access capital.
The initiative, which offers ₦10,000 to ₦100,000 in free grants, targets individuals whose livelihoods depend on petty trading, from food vendors and kiosk owners to shoe repairers, tailors, and recharge card sellers.
At the heart of the programme is a simple goal: to help Nigerians grow self-sustaining businesses without the usual hurdles of collateral, company registration, or complex paperwork.
Source: Legit.ng
